Donald Trump's personal wealth falls by $800m in just one year

The Republican candidate is possibly not as rich as he likes to make out

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The Independent US

Donald Trump’s personal wealth has declined by approximately $800m since he began his presidential campaign - in which he has repeatedly boasted about how rich he is.

Business magazine Forbes has revised the Republican nominee’s wealth estimate down to $3.7bn (£2.8bn) down from $4.5bn last year.

The decline in his fortune has been put down to the worsening of conditions in the New York property market 

Several of his primary assets, including Trump Tower in Manhattan and Mar-a-Lago in Palm Beach, Florida, have declined in value compared with the previous year.

But Forbes also estimates that he has lost approximately $100m in lost deals with companies such as NBCUniversal, Univision and Macy’s over his controversial comments on the campaign trail.

Spanish language TV network Univision announced it would cancelled its broadcast of the Miss USA pageant - which is owned by Mr Trump - in July 2015 after Mr Trump called Mexican immigrants “criminals and rapists”.

He said he would build a wall to keep them out of the US and make Mexico pay.

Mr Trump later settled a lawsuit with Univision for an undisclosed amount in February this year.

The presidential candidate is also estimated to have spent a further $50m on his own campaign. 

Last year, Mr Trump said the “beauty” of his candidacy is that he was very rich and could finance his own campaign without relying on establishment donors like his rival, Democratic nominee Hillary Clinton. 

Indeed, Mr Trump has struggled to bring in major donors at the same pace as Ms Clinton. 

Trump-Tower-Getty.jpg
Several of Mr Trump's most iconic properties have declined in value (Getty Images)

In August, Ms Clinton raised $143m from donors for her presidential bid compared with just $90m for Mr Trump. 

Mr Trump, who once claimed he was worth $10bn, is notoriously precious about disclosing his earnings. 

He is so far the first major party presidential candidate since Gerald Ford not to publish his tax return.

In contrast Ms Clinton and her husband declared that they had earned a reported $10.6m in income and paid $3.6m in federal income tax in 2015. 

Forbes has also claimed that no other mogul featured on their annual rich list has been “more fixated on his or her net worth estimate on a year-in, year-out basis than Donald J Trump”.

The magazine said that other billionaires on the list tended to complain that the estimate was too high rather than too low.

When Forbes estimated his at $4.5bn last year he complained: “I’m running for President. I’m worth much more than you have me down [for]. 

“I don’t look good, to be honest. I mean, I look better if I’m worth $10 billion than if I’m worth $4 billion.”

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